Capturing the broader picture of value co-creation management

The interactional, interdependent, and dynamic nature of value co-creation has made value management in business relationships a particularly challenging issue for both academicians and practitioners. In addition, studies on this topic have mostly focused on managing value co-creation in isolation from the wider relational context without completely capturing the influence of other value processes on value co-creation. This paper examines the broader picture of value co-creation management by providing a model based on interlinked value processes, namely, value communication, value appropriation, value measurement, and value representation. We adopted a qualitative approach based on 86 interviews with managers of both customer and supplier companies, which operated in different industries. Results showed that the management of value co-creation implies considering complex patterns of interconnections with other value processes. In particular, the study will shed light on the centrality of value appropriation to co-create value and on the importance of value representation to coordinate ideas and enable future co-creation opportunities.     

Deaf and disabled? (Un)Employment of deaf people in Belgium: a comparison of eighteenth-century and nineteenth-century cohorts

In this article, the employment characteristics of pre-industrial and industrial cohorts of deaf men and women are compared with each other, as well as with a cohort of non-disabled siblings. The aim is to determine the extent to which the employment patterns of deaf persons lined up with those of non-disabled people and to see how nineteenth-century industrialization processes influenced their employment opportunities. This article challenges the widely held assumption that the nineteenth century constituted a definitive break by arguing that the professional lives of deaf people were not necessarily better before industrialization. Moreover, I demonstrate that the development of deaf schools in the course of the nineteenth century opened a new range of career opportunities for deaf individuals.     

A new financial stress index model based on support vector regression and control chart

Financial stress index (FSI) is considered to be an important risk management tool to quantify financial vulnerabilities. This paper proposes a new framework based on a hybrid classifier model that integrates rough set theory (RST), FSI, support vector regression (SVR) and a control chart to identify stressed periods. First, the RST method is applied to select variables. The outputs are used as input data for FSI–SVR computation. Empirical analysis is conducted based on monthly FSI of the Federal Reserve Bank of Saint Louis from January 1992 to June 2011. A comparison study is performed between FSI based on the principal component analysis and FSI–SVR. A control chart based on FSI–SVR and extreme value theory is proposed to identify the extremely stressed periods. Our approach identified different stressed periods including internet bubble, subprime crisis and actual financial stress episodes, along with the calmest periods, agreeing with those given by Federal Reserve System reports.     

Risk Analysis: Celebrating the Accomplishments and Embracing Ongoing Challenges

As part of the celebration of the 40th anniversary of the Society for Risk Analysis and Risk Analysis: An International Journal, this essay reviews the 10 most important accomplishments of risk analysis from 1980 to 2010, outlines major accomplishments in three major categories from 2011 to 2019, discusses how editors circulate authors’ accomplishments, and proposes 10 major risk-related challenges for 2020–2030. Authors conclude that the next decade will severely test the field of risk analysis.     

“一带一路”沿线国家设施联通对贸易利益的影响

以全球价值链（GVC）参与为视角，基于2005—2015年40个“一带一路”沿线国家与我国的增加值贸易数据，采用静态面板固定效应模型实证分析交通基础设施和通信基础设施对“一带一路”沿线国家贸易利益的影响。结果发现，加强交通和通信基础设施建设有利于提高一国出口中所包含的国内增加值，增进该国的贸易利益。作用机制研究表明，交通基础设施和通信基础设施都能够通过降低贸易成本促进贸易利益的提升，其中通信基础设施还能够通过提高贸易的时间效率对贸易利益产生积极影响。因此，“一带一路”沿线国家应以设施联通为依托，加强本国的交通和通信基础设施建设，把握参与国际生产分工的主动权，以实现共同发展繁荣。     

A Probabilistic Framework for Risk Analysis of Widespread Flood Events: A Proof‐of‐Concept Study

This article presents a flood risk analysis model that considers the spatially heterogeneous nature of flood events. The basic concept of this approach is to generate a large sample of flood events that can be regarded as temporal extrapolation of flood events. These are combined with cumulative flood impact indicators, such as building damages, to finally derive time series of damages for risk estimation. Therefore, a multivariate modeling procedure that is able to take into account the spatial characteristics of flooding, the regionalization method top‐kriging, and three different impact indicators are combined in a model chain. Eventually, the expected annual flood impact (e.g., expected annual damages) and the flood impact associated with a low probability of occurrence are determined for a study area. The risk model has the potential to augment the understanding of flood risk in a region and thereby contribute to enhanced risk management of, for example, risk analysts and policymakers or insurance companies. The modeling framework was successfully applied in a proof‐of‐concept exercise in Vorarlberg (Austria). The results of the case study show that risk analysis has to be based on spatially heterogeneous flood events in order to estimate flood risk adequately.     

China’s Choice of Analytical Models for Its Anti-Monopoly Law

Modern analytical models for anti-monopoly laws are a core element of the application of those laws. Since the Anti-Monopoly Law of the People’s Republic of China was promulgated in 2008, law enforcement and judicial authorities have applied different analytical models, leading to divergent legal and regulatory outcomes as similar cases receive different verdicts. To select a suitable analytical model for China’s Anti-Monopoly Law, we need to consider the possible contribution of both economic analysis and legal formalism and to learn from the mature systems and experience of foreign countries. It is also necessary to take into account such binding constraints as the current composition of China’s anti-monopoly legal system, the ability of implementing agencies and the supply of economic analysis, in order to ensure complementarity between the analytical model chosen and the complexity of economic analysis and between the professionalism of implementing agencies and the cost of compliance for participants in economic activities. In terms of institutional design, the models should provide a considered explanation of the legislative aims of the law’s provisions. It is necessary, therefore, to establish a processing model of behavioral classification that is based on China’s national conditions, applies analytical models using normative comprehensive analysis, makes use of the distribution rule of burden of proof, improves supporting systems related to analytical models and enhances the ability of public authorities to implement the law.     

基于信号博弈的卖方欺诈行为分析

本文主要基于信号博弈的卖方欺诈行为进行研究，假设拍卖中可能存在欺诈型和诚实型两种卖家，其中欺诈行为有概率发生在第二价格拍卖中：欺诈型卖方冒充竞拍者递交仅次于最高价的报价从而获得额外收益。两种卖家根据各自效用选择拍卖形式：第一价格或者第二价格。而竞买者将卖者的选择作为信号，更新对卖方类型的判断，然后制定报价策略。这是一个买卖方信号交叉影响的过程。考虑到拍卖过程中买方价值相关性，本文在建立模型中参考了关联价值原理。针对该模型进行分析，得出了不同情况下的买卖方策略，并且研究了买方报价、买方判断、卖方收益三者之间的关系。文中利用贝叶斯公式对双方的策略选择问题进行预测，与单纯的概率分布方法相比，更具实践价值。     

Response strategy to environment context factors using a lean and agile approach: Implications for firm performance

Based on the environment-strategy performance perspective and dynamic capabilities framework, we develop a theoretical model and hypotheses specifying how supply chain collaboration as a response to environment context factors – competitive intensity, supply uncertainty, technological turbulence and market turbulence, using a lean and agile strategy may influence firm performance. We test the model using partial least square structural equation modelling on data collected from a field survey with responses from 152 manufacturing firms representing a variety of industries. Empirical findings generally support the relationship between collaboration and firm performance using a lean and agile strategy. Also, for firms in industries that face environments characterised by high supply uncertainty and competitive intensity with, technological turbulence, the study finds evidence of a direct relationship between these environmental factors and supply chain collaboration. The findings provide an initial strategic response framework for appropriately aligning a lean and agile supply chain strategy through collaboration with environment context factors to achieve firm performance improvements.